Bookkeeping Services Johor Bahru

In Malaysia, there are two types of partnerships, which are general partnerships and limited liability partnerships (LLP). Although both of them are in the same category of partnerships and they do share some similarities, there are quite a lot of differences between them too. Before deciding on the type of partnership you want to establish, […]

In accounting, deferrals are the accounts where the company has not realised the asset or liability until the next accounting period or a future date. Deferred revenue refers to the revenue that the company has not generated by delivering the goods or services to its customers. It is the payment that the customers have made […]

How do we determine how successful a business is, or how much the company has developed over the years? When we are finding the answer to these questions, we will usually see the terms revenue and turnover. For those who are not familiar with accounting (Also see The Difference between Financial Accounting and Managerial Accounting) […]

As a business owner, when you look at the financial statements that your accountant or an accounting firm in Singapore that you have outsourced your accounting tasks to has prepared to you, the terms sales and revenue may look familiar. However, do you know their differences? Some people may think that the terms sales and […]

Capital expenditures are the expenses that a company will incur when it increases some values to the existing assets or acquires some new assets that it will use beyond the current accounting (Also see Three Different Types of Accounting) year. As against, operating expenses are the expenses that the company needs to spend to run […]

You may be aware of the importance of earning revenues (Also see An Overview of Contra Revenue) by selling the products or services that your company offers if you want your business to be successful. However, even though you are making sales or deals very rapidly, it does not mean that your business is in […]

Contra revenue is the amount that an accountant would deduct from the gross revenue of a company to calculate the net revenue that it has earned. In other words, to calculate contra revenue, you should deduct your net revenue from the gross revenue. If you outsource your accounting (Also see Types of Accounting That You […]

Revenue and retained earnings are two terms that one will usually see when reading the financial statements. Revenue forms an important part of the income statement, and it will also appear in the company’s balance sheet. Retained earnings, on the other hand, is the bottom line of an income statement and the accountants from an […]

According to the Companies Act 1965, all companies need to have an M&A (Memorandum and Articles of Association). Under the Companies Act 2016, the company constitution has taken the place of M&A. Thus, now, the M&A is known as the constitution as a whole. If you want to incorporate a company and you require a […]

Some people may think that accounting is all about recording transactions and calculating figures. This is just a tiny part of the use of accounting. In fact, there are many types of accounting, and they serve different purposes. Business owners can choose the types of accounting that their companies would use based on the scope […]